Profit Warning Sends Tate and Lyle Shares Tumbling

London, England, Sept. 23, 2014 -- Tate and Lyle stock fell 16% after it issued a profit warning, saying income this year would likely be about 20% lower than analysts expected.

The company blamed supply chain problems caused by the harsh U.S. winter and competition in the sweetener market for the warning.

About 10 years ago the company formed a joint venture with DuPont called DuPont Tate & Lyle to produce 1,3 propanediol, the key building block for DuPont's Sorona polymer, which is used in carpet.